Wednesday June 8, 2016
Economic Calendar & Watch Lists 6/8/2016
US Futures are posting modest gains this morning after stronger than expected Chinese import data numbers which may signal stabilization in China’s economy. The price of crude is higher this morning by +1.2% which is lifting energy producing stocks. Asian stocks closed mixed.
The SPY closed well off its highs in yesterday’s session on some selling volume into the late afternoon. Support will lie at the low of yesterday’s range at $211.50, followed by $210.51, and the former macro descending resistance zone from $209 – $209.50.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
10:00 Apr JOLTS job openings expected -82,000 to 5.675M
10:30 EIA Weekly Petroleum Status Report
1:00 Treasury auctions $20B of 10-year T-notes
Notable Earnings Before Open
LULU: Lululemon – EPS Est. $.30, Rev Est. $487.69M
Notable Earnings After Close
RH: Restoration Hardware – EPS Est. $.05, Rev Est. $452.86M